Reaching the age of thirty, my income randomly doubled

LeEco has indeed enjoyed boundless glory over the years.

Many celebrities in the entertainment industry rushed to buy LeEco stocks, including the actress wife making a comeback, as well as Director Yimou, Hong Lei, Xiaoming, Sun Li, and others.

If all the names from the entertainment industry were listed out, they would fill two to three pages.

And that's just the top-tier celebrities.

Beyond the entertainment circle, various wealthy second-generation youths, including Sicong, were eager to buy shares.

It seemed as though investing in LeEco guaranteed a hundred percent profit.

This indirectly contributed to LeEco's invincible myth in recent years; if you talk about how impressive Jia Yueting's business model is.

There's basically none, just like television.

Not to mention OEM production, which plenty of domestic manufacturers are doing anyway.

Reliance on sacrificing profits or even operating at a loss to increase sales volume, thereby achieving rapid financing.

That's exactly the business model most observers see in LeEco's rapid expansion.

And this model is definitely viable for internet companies, because once they have a user base, they can redefine the game rules and thus achieve rapid profitability.

But applying this model in the tech field, especially for electronic products, is completely misguided.

Without profit as a support, technology companies cannot fund research and development.

Nor can they maintain a technological lead.

Over time, their products simply won't be competitive at all.

All electronic products that rely on sacrificing profits, or even operate at a loss to expand their market,

can't possibly last very long.

LeEco tried to emulate Xiaomi but fell far short of Lei Jun in corporate management and channel control by more than a few streets.

The reason Xiaomi could outperform all knockoff phones is that they abandoned the traditional business model.

They sold directly online, which greatly reduced costs compared to the offline channels of traditional manufacturers.

From its inception, Xiaomi has been profitable.

The idea that Jia Yueting could use losses to kill off a large number of domestic electronics manufacturers is nothing but a joke.

Not to mention the massive loss-making LeSports he launched.

The business world is stirred once more.
Explore stories at My Virtual Library Empire

This time, the target is none other than the recent business myth of high-flying LeEco.

Whether it can weather the storm like Tengying Group remains unknown to anyone.

But most in the business world know that LeEco has been put directly on the fire by Tengying Group.

The reason is that Jia Yueting, at the critical moment when the battle for Hua Teng was drawing to a close, came out attempting to pick the big peach, Huayi.

Huayi is now tightly encircled by Tengying Group.

Its market value has fallen from a hundred billion to within thirty billion, even though they lost three top female celebrities.

A camel, even when emaciated, is still larger than a horse, and if it recovers from this setback, there's a good chance it could rise back up to a hundred billion in market value.

After all, Huayi's foundation has not been shaken.

Its dominant position in the entertainment industry for decades can't be truly toppled in an instant.

At such a time, Jia Yueting exchanged 8% of LeEco stocks for 20% of Huayi.

From a profit-making perspective, it was certainly a successful investment.

Unfortunately, he underestimated Chen Pingsheng's capabilities.

In just one day, Tengying Group was able to arrange three real-name whistleblowers in America and swiftly made headlines on the American media's top five news outlets.

They even relayed the news back home that same evening, and online coverage was extensive, reporting on LeEco's asset transfer.

Only a company with massive media resources like Tengying Group could pull off such a feat.

After all, Tengying's clout is not limited to its numerous stars—it even has hundreds of internet celebrities.

At their command, LeEco could be subtly placed on the fire to roast.

As expected, LeEco's stock price also started to plummet across the board.

What the capital market fears most is corporate illegality, because if you have a problem with your business direction, you can take the time to adjust slowly.

But if there's illegal activity or crime, then it's a matter of economic issues in the business realm.

The founders will have to go to jail.

This kind of damage is the most fatal to a company.

When experts make their move, it's often in such an unadorned manner.

They either don't strike at all, or they strike to kill.

Chen Pingsheng aimed swiftly, accurately, and ruthlessly at the heart of LeEco.

If it gets out that Jia Yueting attempted to transfer assets abroad and embezzled funds in core projects,

then the myth of LeEco Group will definitely come to an abrupt end.

If an ordinary person made the complaint, it definitely wouldn't have much impact.

A corporation with a market cap in the hundreds of billions has too many ways to silence the whistleblower or the news media.

But once the whistleblower is backed by a billionaire of the same caliber, the result would be completely different.

In this process, the priority was battling for news media resources, followed by the most critical political ones.

The thunderous collapse of a hundred billion-level enterprise would never be just a simple business issue.

There would be a series of unspeakable complexities and relationships behind it.

At least for Jia Yueting at this moment, what he most wanted to do was to silence those whistle-blowers.

Incidentally, he also sought to pull strings to completely take down or even outright ban news that was unfavorable to LeEco.

Meanwhile, Pingsheng in Xiangjiang wouldn't give him the chance.

If someone above tried to smooth things over for him, he would escalate the news coverage as quickly as possible.

When the public opinion was minor, smoothing things over was still quite simple.

But once public opinion grew to a level where even the overseas Chinese were all aware,

whoever dared to step out and smooth things over would have to be careful of the big hat looming over their head.

By that point, he might even report the peacemaker along with the whistleblowers.

For now, he was mobilizing his resources to amplify public opinion.

Jia Yueting was busy finding people and connections, and various news pieces defending LeEco were also popping up instantly.

From this, it was evident that whenever there was a cloud of smoke in the air, it was because someone above wanted you to see it.

They want you to be informed about the news.

Just like the current situation with Tengying Group and LeEco.

One is a quietly rising new force in recent years, the other is a super-giant group hailed as a business myth in the past three years.

When these two are fighting viciously above, the news witnessed by the average person would change dramatically.

Pingsheng wanted to use widespread public opinion to push for an investigation into LeEco's finances, while Jia Yueting sought to directly ban these unfavorable news through connections.

And to quickly disseminate through media coverage the great contributions of LeEco over the years.

No matter what the final outcome is, one thing is certain.

Huang Zhongshi just managed to find a bank president to agree on a mortgaged loan of three billion.

The price was 8% of LeEco's shares.

And the deal was doomed immediately.

LeEco is now deeply mired in a whirlpool caused by Tengying Group, with no one knowing where its stock price will ultimately head.

At such a time, using LeEco's stocks as collateral, anyone daring to lend that money would certainly face significant risk afterward.

The office workers within the system would absolutely take the most stable path unless absolutely necessary.

They wouldn't take huge risks for your company when the situation is unclear.

Huang Zhongshi swore in frustration once more.

And he silently prayed in his heart that LeEco must not run into trouble.

If Jia Yueting encounters even a slight problem again, then who would dare to come to Huayi's rescue?

That bastard Pingsheng, he really isn't leaving even the slightest way out for himself.

He dares to go head-to-head with LeEco.

If he actually manages to take down LeEco, anyone facing Tengying Group in the future,

would first need to give themselves a good shake.

This damn guy is a lunatic; does he not know that behind every hundred billion-level company stands someone?

How many people does he want to offend before he is willing to stop? There's no answer to anything.

In any case, at this time, the would-be white knight Jia Yueting trying to save himself was also caught in the whirlpool.

The high-end battle between the two had begun.

No matter who wins or loses in the end, Pingsheng has made a huge splash in this recent period.

This kind of attention has its advantages and disadvantages for an entrepreneur: it all depends on how he handles himself in the future.

After this period, Tengying Group had also completely emerged as a mega-sized commercial group in plain sight.

It used to have unmatched influence in traditional fields, but now everyone knows about its control over traffic and the media sectors.

And its influence far exceeds anyone's imagination.

If you want to clash head-on with it, you'd better weigh whether you have the kind of hardcore strength that Xu Pidai and Mr. Yan possess.

Otherwise, if you're struck back, you might end up worse off than Huang Zhongshi, who's already in hot water.

Who would laugh at him now? Everyone just marvels at how the previously inconspicuous Tengying Group is so powerful.

It's reached a level well beyond comparison to other typical large groups.